From Wall Street to Y'all Street, Nasdaq to open regional headquarters in Dallas, Texas

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Nasdaq is set to become the latest Big Apple entity to establish a presence in the Lone Star State. When the world’s second-largest exchange opens its regional office, it will join two other notable entities in what is being tactfully dubbed ‘Y’all Street.’

In an event on Tuesday, representatives from the Nasdaq confirmed that a new regional headquarters would be coming to Dallas and that the institution planned to “make additional investments in the state, designed to enhance the liquidity, transparency, and integrity of the financial ecosystem.”

Leadership from the Nasdaq spoke about the burgeoning pro-business economy, dubbed the Texas Miracle, that the state has leveraged to attract so much talent in recent years.

“Nasdaq is deeply ingrained in the fabric of the Texas economy, and we look forward to maintaining our leadership as the partner of choice for the state’s most innovative companies,” Nasdaq Chair and CEO Adena Friedman said. “Beyond our listings franchise, we are proud to support a wide network of clients who trust us to help solve their most complex challenges. With our regional headquarters in Dallas, we look forward to further deepening our relationships with clients and supporting the continued success of the Texas Miracle.”

What other exchanges are making the move to Y’all Street?

In June of last year, capital giants BlackRock and Citadel Securities were among the headline investors in a group that is seeking to bring a new national stock exchange to the Lone Star State. That exchange will be named the Texas Stock Exchange and will be headquartered in Dallas, a historic finance powerhouse in the state.

James H Lee, chairman and CEO of the Texas Stock Exchange, says the group leading the project has already raised $120 million and more than two dozen investors.

“With the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national exchange in Texas,” Lee said via LinkedIn.

In February of this year, the New York Stock Exchange, the world’s largest exchange, announced that it would be reincorporating its Chicago branch in favor of opening a fully electronic exchange that would be headquartered in Dallas.

More: New York Stock Exchange to launch fully electronic NYSE Texas in Dallas

“With the launch of NYSE Texas, we will expand our financial might in the United States and cement our great state as an economic powerhouse on the global stage,” said Gov. Greg Abbott in a statement at the time of the announcement.

“I thank the New York Stock Exchange for choosing Texas. Working together, we will continue to advance pro-growth economic policies that allow entrepreneurs and businesses to thrive and will make Texas stronger and more prosperous than ever in the history of our great state.”

Beck Andrew Salgado covers trending topics in the Austin business ecosystem for the American-Statesman. To share additional tips or insights with Salgado, email Bsalgado@gannett.com.

This article originally appeared on Austin American-Statesman: Nasdaq plans to open regional headquarters in Dallas, Texas